£900000 High Newbiggin Street, York

Summary

Existing Holiday Let Business For Sale.

4 recently refurbished Freehold apartments, set within a walled courtyard, located just minutes’ walk from the heart of the city.

The business has traded successfully for 5 years and is running currently and has an excellent website (www.minstersreach.co.uk) and is run through a local holiday let company. There are healthy bookings throughout the forth coming months, and repeat business is building (alongside excellent reviews).

As a commercial property, the apartments fall under business rates (not council tax) and benefit from a lower comparable Stamp Duty levy.

With use of quality sofa beds the apartments can accommodate up to 20 guests at one time – giving excellent flexibility for the owners to target their preferred groups.

Full Description

Location

Located off Lord Mayors Walk, just a short walk from York Minster, York Theatre Royal and the multitude of shops, bars and cafes on offer. A perfect position for visitors to enjoy York from. Parking is available in Monk Bar car park that is on the door step of the development – perfect from unloading the luggage!

The Development

All 4 apartments are set within a private walled courtyard and were refurbished 2017 with further upgrades to come this January to add further to the high quality finish throughout. A big bonus is the good-sized store, that works brilliantly as a linen/extraneous items store – handy for turning round the apartments between bookings.

The property is freehold, but can be sold leasehold if required.

1 Minsters Reach

Sleeps up to 4 guests.

2 Minsters Reach

Sleeps up to 6 guests

3 Minsters Reach

Sleeps up to 4 guests

4 Minsters Reach

Sleeps up to 6 guests

Income

We are advised by the vendor that in the last year the gross annual income was in the region of £118,000.

The apartments continue to receive very strong feedback both online and in the visitor books.

The current owner employs a holiday let company to manage the properties as he lives away from York. However, a local owner could manage the properties themselves and avoid additional agency fees.

Key Features


  • Four luxury modern apartments
  • Fully furnished
  • 2 ground floor
  • 2 first floor
  • Capacity for 20 guests max.
  • Holiday and Corporate Lets Permitted
  • Courtyard setting
  • 7 minutes walk to York Minster